By Frédérique Leblanc-Piette – Contributor 

November marks the celebration of the social and sustainable economy. In honour of Social Economy Month, this article sheds light on businesses that promote this type of economy and who have been part of the campus community since 2017. 

Understanding the social economy 

So, what exactly is the social economy, and how do businesses in this sector differ from private companies? It is first and foremost a distinctive approach to business, prioritizing the well-being and needs of its members and community. These businesses, whether nonprofit organizations, cooperatives, mutuals or others, involve their members, employees or clients in the decision-making process. Social economy businesses also offer goods and services while making sure that their actions have a concrete and positive social impact, based on the values of democracy, equity and solidarity. In the province of Quebec alone, there are approximately 11,200 social economy-like businesses, contributing $47.8 billion in annual sales to the economy. 

Making a difference 

Social economy businesses attempt to make a significant impact on the lives of everyone involved. Working with such businesses, you might unknowingly be contributing to the well-being of the community. 

Over the past years, Bishop’s has collaborated with several social economy companies for various contracts, including: 

Niska: A consultation firm that offers support for collective processes, consulting with target groups and strategic planning. 

Défi Polyteck: A social rehabilitation business that offers various services linked with recycling (confidential papers, electronics, etc.). 

Festivals et évènements verts de l’Estrie (FEVE): A business offering education and waste management services for events, along with support and training for event managers. 

Au Pont de bois: A social rehabilitation and woodworking business. 

Jouvence: A vacation camp in nature offering cabin rentals and team-building spaces.

Café Caus: A worker’s cooperative and catering business. 

Advantages of Social Economy 

1) Redistribution of Profits: In social economy enterprises, surpluses generated do not enrich investors, but rather are reinvested to accomplish the enterprise’s mission for the benefit of the community. 

2) Focus on Local Needs: Over 75 per cent of social economy enterprises cater to a local clientele, providing local services, creating jobs and revitalizing living environments. 

3) Gender Equity: In Quebec, 50 per cent of the members of the boards of social economy enterprises are women compared to private companies where only 20 per cent of board members are women. 

4) Room for Democracy: Social economy enterprises in Quebec accumulated 13 million members, all having a voice and a vote in the business decisions. 

5) Happiness: People who work in social economy enterprises are more likely to be happy, with factors such as positive labor relations, self-improvement, recognition, accountability, fair compensation and a sense of belonging. According to the Leger Happiness Index, 75.85 per cent of non-profit organizations and co-ops’ workers are happy. 

Social Economy Month at Bishop’s University spotlights businesses prioritizing community well-being. Collaborations with companies like Niska, Défi Polyteck and others exemplify the university’s welcome to this model, emphasizing the social and economic benefits of embracing a more humane and community-focused approach. 

Be “[a]ware that it’s getting late. But confident that we can do our part. Towards a better world for people. More human. More useful. More sensible. Between a probable future and a preferable future. It’s now or never. Let’s do it. Let’s choose another economy. Let’s choose the social economy”, the Social Economy Month website states. You can learn more about social economy enterprises in Quebec at mois-es.com, available in French and English.